Economy

Germany and Argentina want to uphold a pledge to keep international trade free at a summit of the world’s 20 largest economies in Buenos Aires this week, the countries’ finance ministers said on Sunday.

US-educated economist Yi Gang has been named the next governor of China's central bank, replacing Zhou Xiaochuan. Mr Yi joined the People's Bank of China (PBOC) 20 years ago and has been its deputy governor since 2008. His appointment is being seen as one of ensured continuity as Beijing continues to try and rein in growing debt and limit risky financial practices.

It took about eight months, but Brazil's giant meat packing industry JBS is finally free of its Five Rivers Cattle Feeding operations. The Greeley-based company in Colorado had planned since last June to sell its massive cattle feeding operations, which span six states including Colorado. The deal became final and closed on Friday.

The port of Ushuaia in Tierra del Fuego expects to end the current 2017/18 cruise season with over 339 calls, fifty more than in the previous season, revealed governor Rosana Bertone who attended the SeaTrade International Fair in Miami, the world's major event of the industry.

European Union (EU) finance ministers have added the Bahamas, the US Virgin Islands and St Kitts and Nevis to a tax haven blacklist, while removing St Lucia from the list. And Trinidad and Tobago remains on the list which was created last December.

Argentina plans to launch its first offshore licensing round in almost three decades this year, as it seeks to widen exploration for longer-term production growth, Energy Minister Juan Jose Aranguren said on Thursday.Round One will be launched in June or July for 240,000 sq km in three zones of the continental shelf, Aranguren said on the sidelines of The Economist's Argentina Summit in Buenos Aires.

Exchanges of information between the Falkland Islands and Argentina about fish and squid stocks could begin again before the middle of this year, if all parties are in agreement. Director of Natural Resources John Barton said: “Dialogue with Argentina on the conservation of shared marine resources has the potential to allow for better management of shared fish stocks and improve sustainability of such stocks.”

President Michel Temer said on Wednesday that Brazil will respond with caution to planned U.S. tariffs on steel and aluminum to avoid hurting ties with its second-largest trade partner. But if talks fail, the president emphasized, Brazil will not hesitate to take a complaint to the World Trade Organization.

The United Kingdom, Argentina and the Falkland Islands are closer to agreeing on South Atlantic fisheries improved cooperation, for the conservation of shared resources as once existed with regular joint scientific cruises.

German firms ideally want the UK to stay in a customs union after Brexit, a powerful German industry group says. BDI said it would prefer a deep form of integration between Britain and the EU after Brexit. It had previously said the integrity of the single market for remaining European Union member states should be a priority.